The European Commission did not initiate a formal infringement proceeding against Germany when the German Constitutional Court questioned the primacy of EU law in challenging the proportionality of the ECB’s quantitative easing operation in a judgment in May 2020 (see EUROPE B12480A17).
Despite its discretion on the issue, however, the Commission recognises that the problem has not been resolved. It has therefore instigated a number of technical meetings to consult with the German...